[THE INVESTOR] South Korean health supplement maker Novarex is planning to list on the KOSDAQ market during the second half of the year.
According to reports, Novarex plans to apply for Korea Exchange’s assessment for listing as early as July. The company hopes to become a listed company during the second half of the year, or during the first six months of 2017, the company said.
Novarex had attempted listing in 2014, but was rejected on grounds that the company had once been part of a listed company.
Novarex was founded after it was spun off from its parent company in 2008. At the time, the now defunct parent firm was split into two companies, one of which has since been renamed as NextBT.
The other has since become Novarex after changing hands twice. Last year, Novarex posted sales of 82.7 billion won (US$ 71.7 million), and market capitalization after listing has been projected at about 500 billion won.
By Choi He-suk (email@example.com